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Employee
June 1, 2019
Question

I am paid ahead to 2018 on my mortgage. Will I be able to deduct the mortgage interest that I paid this year?

  • June 1, 2019
  • 1 reply
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I'm confused because of Publication 936.  It states "if you pay interest in advance for a period that goes beyond the end of the tax year, you must spread this interest over the tax years to which it applies."  My due date was rolled ahead because the bank applied extra funds in this manner.  To my knowledge, the interest due amount is not in the negative.

1 reply

June 1, 2019
any mortgage interest you paid during 2016 would be deductible (subject to standard deduction requirements).  you are not paying interest for a future year, you are paying on current amount due - just ahead of schedule.